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Forex: USD/JPY lower at 93.00 area

The USD/JPY is at strength again today, despite Japan's Nikkei gains, and fell throughout the Asian session to reach as low as 92.92. The market pulled the price back to 93.00 ground, but still edging lower by -0.32% on the day.

Next BoJ meeting is on Wednesday, but there isn't much Yen selloff this time. Expectations are already much priced in. This European morning, Markit will publish Services PMI in the Euro countries.

"The recent strength reinforces the broader bullish theme and focus is on resistance at 94.77, a break above this would open 97.79", wrote UBS analyst Gareth Berry, pointing to support at 92.01.

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